Hubbell (NYSE:HUBB) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Hubbell (NYSE:HUBB – Free Report) from a buy rating to a strong-buy rating in a research note published on Sunday.

HUBB has been the topic of a number of other research reports. UBS Group restated a “neutral” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, December 12th. Barclays upped their target price on shares of Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Mizuho lifted their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Evercore ISI initiated coverage on shares of Hubbell in a research report on Monday, December 15th. They set an “outperform” rating and a $575.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $488.43.

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Hubbell Price Performance

Shares of HUBB stock opened at $455.66 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. The company has a market capitalization of $24.22 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.48 and a beta of 1.01. The firm’s 50-day moving average is $440.69 and its two-hundred day moving average is $429.28. Hubbell has a 12 month low of $299.42 and a 12 month high of $484.26.

Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $4.49 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts predict that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is currently 35.24%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the sale, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John F. Malloy acquired 435 shares of Hubbell stock in a transaction dated Monday, November 17th. The stock was bought at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the purchase, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

Several large investors have recently bought and sold shares of HUBB. T. Rowe Price Investment Management Inc. acquired a new stake in Hubbell during the 1st quarter worth $399,000. Norinchukin Bank The grew its holdings in shares of Hubbell by 12.8% during the first quarter. Norinchukin Bank The now owns 2,411 shares of the industrial products company’s stock worth $798,000 after purchasing an additional 274 shares during the last quarter. Groupe la Francaise purchased a new position in shares of Hubbell during the first quarter worth about $57,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Hubbell by 391.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 102,970 shares of the industrial products company’s stock worth $34,074,000 after purchasing an additional 82,027 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Hubbell in the 1st quarter valued at about $1,611,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

About Hubbell

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Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.

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